Are hackers outsmarting our banks in their security measures?

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A year ago, news first emerged that hackers may have found a new way to outsmart our banks in their security measures, even after they introduced their 2-FA authentication protocol where consumers would have to key in a One-Time Password (OTP) sent to their mobile phone whenever they make an online transaction using their credit card(s). Their method? Just hack into the victims' mobile phone, … [Read more...]

Will Trump’s Policies Result in a Stock Market Crash?

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Last week, the Business Times published a great article - Markets are underestimating the risks of accelerating inflation written by Neil Behrmann - which I thought was worth a second look. In the nutshell, the author believes that there will be rapid inflation coming our way, especially with Trump's policies, and that this could be a sign of an impending market crash. I quote some parts of … [Read more...]

Housing Finances – How Much Will Your First BTO Cost You?

Although we’ve yet to apply for our BTO, I’ve been asked to share my plans and financial calculations, so here goes! Hopefully this will help those of you who need a guide on how to plan your finances for your housing needs. I previously wrote about waiting for the February 2017 BTO launch, but unfortunately neither Bukit Batok nor Sengkang appealed to my fiancé and I as we prefer to stay … [Read more...]

How to get FREE money for ang baos you’ll have to give out during CNY

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Aside from the food, blackjack and family reunions, my favourite part of Chinese New Year includes receiving my annual ang baos (red packets filled with money - a Chinese New Year tradition in Singapore). After all, who doesn't like free money?! With the wedding just around the corner, this year's CNY visitations were particularly significant as it marked the last time I can get my ang baos. … [Read more...]

Women In Investing – Interviewing Lauren Templeton

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Warren Buffett. Benjamin Graham. Peter Lynch. Philip Fisher. George Soros. John Templeton. Where are the females among the world's most recognised investment legends? A look at Investopedia's list of the world's greatest investors shows that there's none. Among the money managers, only 2% of hedge funds are run by women, although a large percentage of them are in the top performers of the … [Read more...]

2017 (Monthly) Money Saving Challenge

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Now that a brand new year has started, this is the time where many people typically decide to improve their personal finances as part of their New Year's resolutions. One popular savings challenge that has been attempted for many years is the classic 52 week money challenge: Week 1: Save $1 Week 2: Save $2 Week 10: Save $10 Week 30: Save $30 Week 52: Save $52 By the end of the … [Read more...]

Readers’ Challenge: Financial Resolutions for 2017

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Last year, I gave out a free financial pack to readers, challenging you guys to kickstart your financial journey and make 2016 the year you got your finances in order. Over hundreds of you emailed me asking for the list of resolutions, with some of you mentioning that you wanted to print and put it in your wallet as a daily reminder. I'm looking at this list again now and I still find this a … [Read more...]

2016: Did I Meet My Financial Goals for This Year?

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With 2016 coming to a close, I decided to take a look at how I fared this year and whether I had met the financial goals I'd set for myself. When I first started this blog as a financial notebook to keep an account of all my learnings on this personal finance journey, my initial focus in 2014 was all about cutting down expenses and maximising my savings. In 2015, I achieved my goals of … [Read more...]

Asia Honeymoon Itinerary – Japan / Korea / Taiwan

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TAIWAN HONEYMOON ITINERARY If you're looking for a cheap but romantic destination in Asia, Taiwan is one of my favouritie countries to visit. I highly recommend visiting, and it is a place that I always find myself coming back to! Go during January - March if you're a fan of the cold, so you can snuggle up with your other half while being bundled in pretty coats. It isn't too chilly either … [Read more...]

Be Careful of Sneaky Bank Charges

If we're not careful about banking fees, we'll be losing a lot more than we gain from the bank. I learnt this first-hand when I didn't monitor a savings account I had opened during my university days. I always thought just keeping it aside would be safe, but boy, was I wrong. By the time I realised it, the bank had deducted hundreds of dollars from my account to pay for the "account … [Read more...]

Giving Your Parents Monthly Allowance? Get "Filial Piety" Tax Rebates By Using This Method Instead!

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Like most Asian children, I've been giving my parents $200 each every month. This is usually done through monthly bank transfers, but recently I made a change by giving my parents their allowance through CPF cash top-ups instead. But money in the CPF is untouchable! It took me a while to convince my parents about the merits of this move. But there are multiple benefits that eventually got me … [Read more...]

Choosing the right BTO flat

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“Honey, let’s invest and buy the BIGGEST BTO flat in the MOST CENTRAL location so that we can sell it off for a huge profit next time!” Does this sound familiar? Indeed, this is the mindset of many Singaporean couples, who believe that buying and selling property is a sure way to make them rich. While BTOs are indeed one of the cheapest housing options around, biting off more than you can … [Read more...]

Hitting $100,000 In Savings by Age 26

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I got a pleasant surprise when I checked my CPF statement recently. After 3 years of work, my CPF has accumulated to a good $51,000 sum, which therefore brings my current net worth to above $100,000 from just savings alone. The breakdown is as follows:  CPF (forced savings)  $51,000  Savings in 2014  $20,000  Savings in 2015  $30,000 I decided to revisit my old blog … [Read more...]

Which Credit Cards to Use for Wedding Expenses

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Singaporean couples can expect to spend at least $40,000+ if they're getting married in Singapore and holding a wedding banquet. Many couples spend up to $60,000 as a bare minimum, especially if they opt for an overseas pre-wedding shoot in Korea which is all the rage these days (no thanks to the K-drama wave). Here's a list of wedding items most couples typically need to spend on (based on … [Read more...]

Review: BigFatPurse Value Investing Mastery Course

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When I first embarked on my investing journey last year, I started out by reading various books on the topic and trying to pick up some skills through the self-taught method. Needless to say, I made quite a number of amateur mistakes along the way, but that’s a story for another day. After making some of these mistakes, I thought that perhaps attending investing courses would help me – after … [Read more...]

What Are the 5 Best Credit Cards in Singapore Now?

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For an average working adult who doesn't spend too lavishly, which credit cards currently offer the best value for your buck? In our world today, it seems like there are simply too many credit cards to choose from. With all the different promotions running at different times, it is no wonder that most consumers really have little idea on credit card(s) are the best fit for them. Often, most of … [Read more...]

Credit Card Review: DBS Visa Debit Card

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I've been seeing ads for the DBS Visa Debit Card at Somerset MRT station for quite some time now, and their promise of 5% cashback sounded too attractive to ignore. Considering how my cashback on my current credit card has only been in the $20+ range for the past few months, getting twice of that amount for my spending was a huge lure. But as usual, the main question in my head was: What's the … [Read more...]

Trump victory: Be prepared for a bloodbath in the stock markets tomorrow!

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Be prepared for a bloodbath in the stock markets tomorrow.I was actually discussing with a friend as to whether we should buy some counters in the stock market prior to the election results - because a Clinton win would probably lead to a (slight) increase, whereas a Trump victory would send global stock markets plummeting.Well, at this point (Trump:Clinton is 264:215 at time of publishing), it is … [Read more...]

Why I Cancelled My ILP (Investment-Linked Policy)

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How should I read the numbers on my Investment-Linked Policy (ILP)? I lost more than 2 months worth of salary to learn this important lesson: when insurance and investments are bundled together into a single product, the consumer is often left worse off. A few years ago, when I was a naive fresh graduate in my first job, I met a friend of mine to understand more about financial planning and … [Read more...]

How Much Debt Do Singaporeans Have?

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What's your credit score? Did you know that the secret to getting approved for a mortgage / personal loan / new credit card really lies in how good your credit score is? I didn't know about this when I first started working and was happily applying for new credit cards. But after learning about the Credit Bureau of Singapore (CBS) and what they do, I realised that many life opportunities are … [Read more...]